Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    840 County Rd Riverhead, NY 11901
    Back to Search
    Property profile & analytics

    840 County Rd, Riverhead, NY 11901

    View on Map
    • Lifestyle centers
    • 11,000 SF
    • 2.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 840 County Rd

    Year built
    1985
    Lot size
    2.00 lot acres
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional commercial property, located at 840 Route 58 in Riverhead, New York, presents a unique owner-user investment opportunity. The 11,000 square foot building sits on a desirable 2-acre corner lot, boasting high visibility and significant frontage along two major roads: 225 feet on Old Country Road and 364 feet on Ostrander Avenue. Built in 1985, this single-story structure features an 18-foot ceiling height and is zoned for commercial use (Zoning 3). The property's strategic location benefits from high traffic volume, with approximately 25,000 vehicles passing daily, making it ideal for a variety of uses. Its versatile nature allows for adaptation to various businesses, including auto dealerships, medical offices, retail stores, restaurants, or professional services. An external loading dock adds to its functionality. The property's 2024 real estate taxes are $44,226.14. The occupancy date is November 5, 2024. Seller financing is available for qualified buyers, and lease or ground lease options will be considered. This prime location and flexible options make this an attractive investment for discerning buyers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Riverhead
    County
    Suffolk
    State
    New York
    Longitude
    -72.6693
    Latitude
    40.9345

    Comparable in this City

    • Value Estimation by Request
      20,000 SF

      792 Harrison Ave

      Medical Office Space
      792 Harrison Ave, Riverhead, NY 11901
      View Details
    • Value Estimation by Request
      9,553 SF

      1-9 Main St

      Restaurants
      1-9 Main St, Riverhead, NY 11901
      View Details
    • Value Estimation by Request
      0.01 Acres

      Old Country Rd

      MINI-MALL
      Old Country Rd, Riverhead, NY 11901
      View Details
    • Value Estimation by Request
      0.01 Acres

      Old Country Rd

      MINI-MALL
      Old Country Rd, Riverhead, NY 11901
      View Details
    • Value Estimation
      $1,340,000
      10,595 SF

      103-105 Main St

      MINI-MALL
      103-105 Main St, Riverhead, NY 11901
      View Details
    • Value Estimation by Request
      20.72 Acres

      1880 Old Country Rd

      MINI-MALL
      1880 Old Country Rd, Riverhead, NY 11901
      View Details

    Similar Nearby for Sale

    • $3,990,000
      1.75 Acres

      Riverhead Commercial Property For Sale

      Multi-unit commercial property in Long Island's North Fork wine corridor.
      3225 Sound Ave, Riverhead, NY 11901
      View Details
    • New
      Contact for pricing
      13,997 SF

      Mixed-Use Retail and Office Building

      Three ground-floor retail spaces with second-floor office space in walkable downtown Riverhead.
      53 East Main St, Riverhead, NY 11901
      View Details
    • $839,000

      Renovated Mixed-Use Property, Jamesport

      Fully renovated mixed-use property with residential and commercial flexibility.
      1550 Main Rd, Jamesport, NY 11901
      View Details
    • $2,399,900
      1.50 Acres

      Flanders Commercial Property for Sale

      1.5-acre property with income potential in Flanders, NY.
      669 Flanders Rd, Flanders, NY 11901
      View Details
    • $750,007
      1,452 SF

      Medical/Office Building on Roanoke Avenue

      Professional building suitable for medical, wellness, or general office use.
      976 Roanoke Ave, Riverhead, NY 11901
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      East Main Street Intersection Location

      Mixed-use, office, and industrial spaces for rent.
      680 Elton St, Riverhead, NY 11901
      View Details
    • $4,984 /Mo

      Riverhead Office Space For Lease

      1,506 SF office space in busy shopping center.
      180 Old Country Rd, Riverhead, NY 11901
      View Details
    • Contact for pricing
      46,733 SF

      Retail Space in Riverhead Plaza

      Retail space available in a community shopping center.
      700-800 Old Country Rd, Riverhead, NY 11901
      View Details
    • Contact for pricing
      2,970 SF

      Riverhead Plaza Retail Space

      2,970 SF retail space in Riverhead Plaza available for lease.
      655 Old Country Rd, Riverhead, NY 11901
      View Details
    • Contact for pricing
      45,000 SF

      Riverhead Retail Space Available

      Former 'Big Lots' box in a fully occupied shopping center.
      1087-1101 Old Country Rd, Riverhead, NY 11901
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    840 County Rd
    Riverhead, NY 11901
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    840 County Rd, Riverhead, NY, 11901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!